National Bank of Canada FI Raises Holdings in VeriSign, Inc. (NASDAQ:VRSN)

National Bank of Canada FI boosted its position in shares of VeriSign, Inc. (NASDAQ:VRSN - Free Report) by 35.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 72,924 shares of the information services provider's stock after purchasing an additional 19,111 shares during the quarter. National Bank of Canada FI owned 0.08% of VeriSign worth $13,853,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Empirical Finance LLC increased its position in shares of VeriSign by 1.9% in the third quarter. Empirical Finance LLC now owns 3,038 shares of the information services provider's stock worth $577,000 after purchasing an additional 57 shares during the period. West Family Investments Inc. increased its position in shares of VeriSign by 3.9% during the third quarter. West Family Investments Inc. now owns 1,537 shares of the information services provider's stock worth $292,000 after buying an additional 57 shares during the period. Larson Financial Group LLC lifted its stake in shares of VeriSign by 4.0% in the 2nd quarter. Larson Financial Group LLC now owns 1,852 shares of the information services provider's stock valued at $329,000 after purchasing an additional 71 shares during the period. V Square Quantitative Management LLC increased its holdings in VeriSign by 6.7% in the second quarter. V Square Quantitative Management LLC now owns 1,172 shares of the information services provider's stock worth $208,000 after purchasing an additional 74 shares in the last quarter. Finally, Gateway Advisory LLC lifted its stake in VeriSign by 5.6% in the second quarter. Gateway Advisory LLC now owns 1,538 shares of the information services provider's stock valued at $273,000 after buying an additional 81 shares during the period. Institutional investors own 92.90% of the company's stock.

VeriSign Price Performance

NASDAQ VRSN traded down $0.53 on Wednesday, reaching $200.00. 653,715 shares of the company's stock traded hands, compared to its average volume of 662,956. The stock has a 50-day simple moving average of $185.34 and a 200 day simple moving average of $181.69. The stock has a market cap of $19.22 billion, a PE ratio of 23.25 and a beta of 0.92. VeriSign, Inc. has a 12 month low of $167.04 and a 12 month high of $220.91.

VeriSign (NASDAQ:VRSN - Get Free Report) last posted its earnings results on Thursday, October 24th. The information services provider reported $2.07 EPS for the quarter, topping the consensus estimate of $2.01 by $0.06. VeriSign had a net margin of 55.74% and a negative return on equity of 45.59%. The firm had revenue of $390.60 million during the quarter, compared to analysts' expectations of $390.19 million. During the same period last year, the company posted $1.83 EPS. The company's quarterly revenue was up 3.8% compared to the same quarter last year.

Insider Buying and Selling at VeriSign

In related news, EVP Danny R. Mcpherson sold 2,092 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $192.43, for a total value of $402,563.56. Following the completion of the transaction, the executive vice president now owns 26,157 shares of the company's stock, valued at approximately $5,033,391.51. This trade represents a 7.41 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Thomas C. Indelicarto sold 1,228 shares of VeriSign stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $190.00, for a total value of $233,320.00. Following the completion of the transaction, the executive vice president now owns 33,593 shares of the company's stock, valued at approximately $6,382,670. This trade represents a 3.53 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,776 shares of company stock worth $1,102,524 in the last three months. 0.84% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Robert W. Baird upgraded VeriSign from a "neutral" rating to an "outperform" rating and raised their target price for the company from $200.00 to $250.00 in a report on Monday. StockNews.com raised VeriSign from a "hold" rating to a "buy" rating in a research report on Tuesday. Finally, Baird R W raised shares of VeriSign from a "hold" rating to a "strong-buy" rating in a report on Monday.

VeriSign Profile

VeriSign, Inc, together with its subsidiaries, provides domain name registry services and internet infrastructure that enables internet navigation for various recognized domain names worldwide. The company enables the security, stability, and resiliency of internet infrastructure and services, including providing root zone maintainer services, operating two of thirteen internet root servers; and offering registration services and authoritative resolution for the .com and .net domains, which supports global e-commerce.